EXHIBIT 11 – COMPUTATION OF EARNINGS PER SHARE

In thousands of dollars, except per share data

	Three Months Ended March 31,
	2004		2003
Numerator:
Net income (loss)	$	116,460	$	71,046
Effect of dilutive securities:
Convertible debt — 2.625% issued in 1998		—		2,106	*
LYONS — 1998 issue		—		1,216	*
Less: Anti-dilutive items		—		(3,322	)
Numerator for net loss per common share — diluted	$	116,460	$	71,046
Denominator:
Weighted average common shares		616,557		613,557
Effect of dilutive securities:
Stock options and common stock warrants		3,071		2,960
Convertible debt — 2.625% issued in 1998		—		8,355	*
LYONS — 1998 issue		—		3,046	*
Less: Anti-dilutive items		—		(11,401	)
Denominator for net income (loss) per common share — diluted		619,628		616,517
Net income (loss) per common share:
Basic	$	.19	$	.12
Diluted	$	.19	$	.12

* Denotes items that are anti-dilutive to the calculation of earnings per share.